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Multifamily Loans in
Collinsville, IL

Overview

Collinsville is located in a good market for 5+ unit multifamily loans. Multifamily loans in Collinsville are considered lower risk due to market size and stable regional economy. Interest rates for multifamily loans in Collinsville are competitive. Collinsville apartments may be eligible for non-recourse multifamily loans up to 80% and other favorable terms like long term fixed rates and interest only payment options. SoftQuotes' lenders will lend on 5+ unit multifamily properties in Collinsville.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Loan Rates in Collinsville, IL

SoftQuotes' Fannie Mae® and Freddie Mac® lender rates for 5+ unit multifamily loans in Collinsville are:

Fannie Mae®
$1M to $6M
5 Year Fixed 3.74% - 4.44%
7 Year Fixed 3.68% - 4.38%
10 Year Fixed 3.79% - 4.49%
Freddie Mac®
$1M to $7.5M
5 Year Fixed 3.37% - 3.61%
7 Year Fixed 3.25% - 3.49%
10 Year Fixed 3.47% - 3.71%
Fannie Mae®
$6M to $100M
5 Year Fixed 3.34% - 4.04%
7 Year Fixed 3.28% - 3.98%
10 Year Fixed 3.39% - 4.09%
Freddie Mac®
$7.5M to $100M
5 Year Fixed 3.05% - 3.30%
7 Year Fixed 3.25% - 3.70%
10 Year Fixed 3.25% - 3.65%
Additional rate discounts for affordability and energy efficiency. Longer term fixed rates available. Rates updated on 12/01/2021. This is not an offer or commitment to lend. Multifamily loan rates in Collinsville may vary based on income, leverage and other factors. Fannie Mae is a registered trademark of Federal National Mortgage Association Corporation. Freddie Mac is a registered trademark of the Federal Home Loan Mortgage Corporation.

Get multifamily loan quotes for Dec 02, 2021


Multifamily Lenders in Collinsville, IL

All major multifamily lender types are lending in Collinsville.


Agency Lenders
(Fannie / Freddie / HUD)
  • Long term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options
  • Rate discounts for affordability

Banks &
Credit Unions

  • Intermediate term fixed rates
  • Moderate leverage
  • Tax returns usually required
  • Recourse and non-recourse

Insurance
Companies

  • Long term fixed rates
  • Lower leverage
  • Tax returns usually required
  • Recourse and non-recourse

Conduits
(CMBS Lenders)
  • Intermediate term fixed rates
  • Maximum leverage
  • Tax returns not required
  • Non-recourse
  • Interest only payment options

Get multifamily loan quotes for Dec 02, 2021


Collinsville Market

The city of Collinsville in Madison County has a population of 24,395. The median rent in Madison County for a 2 bedroom is $1,005. The median Collinsville resident is 39 years old with a yearly income of $31,368. The average family has 2.97 members and a median household income of $53,490. Collinsville has a 27% higher education rate. The unemployment rate in Collinsville is 6.7%.


Population
24,395 people

County
Madison County

Renters

34.6% of Collinsville households are renters.


Rent Burden

37.2% median household income spent on rent.

Source: U.S. Census Bureau

Rents

Bedrooms
Madison County 1
Illinois 2
National 2
Studio $719 $599 $737
1 bedroom $783 $669 $813
2 bedroom $1,005 $840 $1,015
3 bedroom $1,311 $1,100 $1,325
4 bedroom $1,543 $1,238 $1,521
1 Median rents 2 Average of counties
Source: Federal Housing Finance Agency

Collinsville Demographics


Median Individual Income
$31,368 / year

Median Household Income
$53,490 / year

Families w/ Dual Incomes
52%

Unemployment Rate
6.7%
Household Income Distribution
Collinsville, IL

Median Age
39 years

Avg Family Size
2.97 people
Age Distribution
Collinsville, IL

College Education or Above
27%

STEM College Graduates
51%
Education Distribution
Collinsville, IL
Source: U.S. Census Bureau

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